ZIP 02920 - 860Z200US02920 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 02920, located in Rhode Island, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 36,000 and a diverse community, this ZIP code presents unique opportunities for homebuyers, real estate investors, small-business owners, and analysts. Let’s break down the key metrics—population, income, housing costs, and racial composition—to help you make informed decisions about living or working in 02920.

Population & Households

ZIP 02920 is home to 36,332 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 14,657 households, reflecting a mix of family structures and living arrangements. The total number of housing units stands at 15,052, indicating a slight surplus of available homes relative to occupied households. This could suggest opportunities for buyers or renters looking to settle in the area, as well as potential for investors eyeing vacant properties.

Income & Housing Costs

The median household income in ZIP 02920 is $79,246, which points to a relatively stable economic base for residents. This income level supports a comfortable lifestyle for many and can attract businesses catering to middle-income consumers. On the housing front, the median home value is $336,900, reflecting a solid real estate market that could appeal to buyers seeking long-term value or investors looking for appreciation potential. For renters, the median rent is $1,271 per month, which aligns with the income levels and suggests a balanced rental market for those not ready to buy.

Race & Ethnicity

ZIP 02920 boasts a diverse population, which adds cultural richness and varied perspectives to the community. The racial composition includes 64.92% White, 6.68% Black, 6.74% Asian, and 18.2% Hispanic residents. This diversity can be a draw for families and businesses alike, as it fosters an inclusive environment and supports a wide range of cultural needs and market demands. For small-business owners, this mix offers opportunities to cater to niche markets or build a broad customer base.

Key Facts

• Total population: 36,332 residents in ZIP 02920 as of 2023.
• Total households: 14,657, indicating a strong residential base.
• Total housing units: 15,052, with a small surplus of available properties.
• Median household income: $79,246, supporting a stable local economy.
• Median home value: $336,900, reflecting a competitive housing market.
• Median rent: $1,271, offering a balanced option for renters.
• Diverse community: 64.92% White, 18.2% Hispanic, 6.74% Asian, and 6.68% Black.

What This Means for You

For homebuyers, ZIP 02920 offers a promising market with a median home value of $336,900, which could represent a sound investment given the area’s income stability and population size. The slight surplus of housing units (15,052 total) compared to households (14,657) might mean less competition for available properties, potentially easing the buying process. Renters can also find value with a median rent of $1,271, which fits within the financial reach of many local households earning a median income of $79,246.

Real estate investors and agents will note the potential for growth in 02920, given the steady home values and diverse demographic base. The area’s population of 36,332 supports demand for housing, while the cultural diversity could drive interest in varied property types or rental needs. Small-business owners can leverage this diversity and income level to target a wide range of customers, whether opening a retail store, restaurant, or service-based operation. Analysts studying market trends will find the balanced income-to-housing-cost ratio and demographic mix useful for forecasting growth or identifying underserved niches.

Run This Study Yourself

• Curious about other ZIP codes or deeper insights into 02920? Start by visiting ZipcodeGPT to access powerful demographic and housing data tools.
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